Many Americans are likely to have to work until they are dead, not as a result of Social Security shortfalls but because of their inadequate 401(k) savings or the fact that they have no retirement plan at all. This disaster has not dawned on the mutual fund companies that manage retirement assets, much less debated on Capitol Hill. Given that the first wave of Boomers is scheduled to turn 65 in 2011, Attention Must be Paid.

Here’s the raw deal in a nutshell: Unless you’ve got Chief and Executive in your job title — including “Ousted Disgraced CEO” — you are probably pension-poor, even if you earn a six-figure salary. That’s because only 11% of the private sector population is covered by a regular pension. Unlike during the postwar Fabulous Fifties and the Soaring Sixties when America was a “fortress economy” and almost half of the private sector was covered, currently even most employees of big companies can’t count on one. Only 17 of the Fortune 100 companies offer a traditional pension to new hires.